The good news is that as of today RadioShack. Radioshack Payroll Dept… has actually officially been purchased by Retail Ecommerce Ventures (REV), offering the troubled business a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant strategies to return the renowned electronics retailer to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having previously revamped the Internet presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your local shopping center. As the United States mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups looking for something to do throughout the long winter nights, and an electronic set or 2 delivered to their door might be simply the important things.
REV says they prepare to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this composing the website presently says that sales have actually been briefly stopped to allow for stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of how much product the business still has on hand after shuttering most of their physical locations in 2017 definitely sounds like something the brand-new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were purchased by another company that prepares to relaunch the once-great retailer as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand name worldwide.
REV declares it’s effectively reversed other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits between the very first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to grab tech basics. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Payroll Dept
REV says it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar enough place to go when you want to buy pricey HDMI cable televisions and knockoff headphones.